The monetyary polcy - The main responsibility of the central bank - Romanian case towards the EU integration

The main responsibility of the central bank almost everywhere in the world, is to establish and implement the monetary policy, which is the most important task for the National Bank of Romania, our central bank, as well. Monetary policy has the same final objectives as economic policy, such as: sustained economic growth, fill employment of resources, a stable balance of payments for the nation vis-a-vis the rest of the world and price stability. But, frequently these objectives are contradictory, because the achievement of one of them may cause the failure of the others. This is the reason why the monetary policy has its own fundamental objective, which is to ensure the price stability. As in the case of the Romanials economic reform, the monetary policy has made slow Progress from the direct control of monetary expansion to the indirect instruments and from multiple and contradictory objectives to what should represent the only concern of monetary policy, namely price stability.